YILI(600887)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 33,328,470,170.19, representing a year-on-year increase of 7.81%[4] - The net profit attributable to shareholders for Q1 2023 was CNY 3,615,021,381.48, reflecting a year-on-year growth of 2.73%[4] - Basic earnings per share for Q1 2023 were CNY 0.57, an increase of 1.79% year-on-year[4] - Total operating revenue for Q1 2023 reached RMB 33.44 billion, a 7.7% increase from RMB 31.05 billion in Q1 2022[12] - Net profit for Q1 2023 was RMB 3.62 billion, up from RMB 3.51 billion in Q1 2022, representing a 3.1% increase[13] - The total comprehensive income for Q1 2023 was RMB 3.56 billion, compared to RMB 3.42 billion in Q1 2022, indicating a 4.1% increase[13] Cash Flow - The net cash flow from operating activities increased significantly by 190.25% to CNY 1,281,223,901.40 compared to the same period last year[6] - Cash flow from operating activities generated RMB 1.28 billion in Q1 2023, significantly higher than RMB 441.42 million in Q1 2022[14] - The cash flow from operating activities for Q1 2023 was CNY 12,428,825,542.51, a significant improvement from a negative cash flow of CNY -72,511,756.54 in Q1 2022[19] - The net increase in cash and cash equivalents for Q1 2023 was 9,233,452,185.11 CNY, compared to 5,958,354,414.38 CNY in the same quarter last year, indicating improved liquidity[15] Assets and Liabilities - The total assets at the end of Q1 2023 reached CNY 147,254,217,870.79, marking a 12.44% increase from the end of the previous year[4] - Total liabilities increased to RMB 89,675,462,646.78, compared to RMB 76,822,199,099.56 at the end of 2022, marking a rise of 16.5%[11] - The company's total assets amounted to RMB 147,254,217,870.79, an increase of 12.4% from RMB 130,965,302,299.22 at the end of 2022[11] - The total liabilities as of Q1 2023 were 66,504,302,525.38 CNY, up from 54,380,044,549.66 CNY in the previous year, indicating a rise in financial obligations[17] - The company's short-term borrowings increased significantly to 10,563,370,972.20 CNY from 5,560,487,500.01 CNY year-over-year, reflecting a strategy to leverage more debt[17] Equity - The equity attributable to shareholders increased by 6.45% to CNY 53,509,313,084.13 compared to the end of the previous year[4] - The total equity attributable to shareholders reached RMB 53,509,313,084.13, up from RMB 50,267,883,832.15, indicating a growth of 4.5%[11] - The company's retained earnings rose to 25,451,038,877.26 CNY in Q1 2023, up from 20,193,062,014.56 CNY in Q1 2022, reflecting strong profit retention[17] Research and Development - Research and development expenses increased to RMB 149.70 million in Q1 2023, compared to RMB 115.76 million in Q1 2022, marking a 29.3% rise[12] - Research and development expenses for Q1 2023 were CNY 124,525,209.58, up from CNY 106,037,768.46 in Q1 2022, reflecting a focus on innovation[18] Operational Efficiency - The company reported a decrease in the weighted average return on equity, indicating potential challenges in maintaining profitability[4] - The company reported a decrease in tax expenses to RMB 645.09 million in Q1 2023 from RMB 595.58 million in Q1 2022, a reduction of 8.3%[13] - The company reported a decrease in accounts receivable to RMB 2,864,538,385.10 from RMB 3,088,345,121.78, a decline of 7.3%[10] - The company reported a decrease in sales expenses to CNY 4,894,239,508.58 from CNY 5,286,167,039.20 in Q1 2022, indicating improved cost management[18] Future Outlook - The company plans to continue expanding its market presence and investing in new product development to drive future growth[6] - The company has adopted new accounting standards effective from January 1, 2023, impacting the presentation of financial statements[20]